Meta Platforms (NASDAQ:META) recently reported earnings for its third quarter of Fiscal Year 2022. Adjusted earnings per share came in at $1.64, which missed analysts’ consensus estimate of $1.90 per share. In the past nine quarters, the company has beaten estimates six times.
Sales decreased -by 4.5% year-over-year, with revenue hitting $27.71 billion. This was higher than the $27.4 billion that analysts were looking for.
In addition, Daily and Monthly Active Users increased by 3% and 2%, respectively. This equated to 1.98 billion DAUs and 2.96 billion MAUs.
Is META Stock a Buy?
META has a Moderate Buy consensus rating based on 25 Buys, six Holds, and two Sells assigned in the past three months. The average META stock price target of $199.91 implies 53.78% upside potential.
